**Registered number: 03830136 Charity number: 1080731** ## **The Global Diversity Foundation** **(A company limited by guarantee)** **Unaudited** **Trustees' report and financial statements for the year ended 31 March 2023** **The Global Diversity Foundation** ## **(A company limited by guarantee)** ## **Contents** ||Page| |---|---| |**Reference and administrative details of the Charity, its Trustees and advisers**|1| |**Trustees' report**|2 - 5| |**Independent examiner's report**|6| |**Statement of financial activities**|7| |**Balance sheet**|8| |**Statement of cash flows**|9| |**Notes to the financial statements**|10 - 21| **(A company limited by guarantee)** ## **The Global Diversity Foundation** ## **Reference and administrative details of the Charity, its Trustees and advisers for the year ended 31 March 2023** ## **Trustees** Mr William Carey Dr John H Hemming CMG (resigned 15 October 2022) Professor Yadvinder Malhi CBE, FRS Dr Sarah-Lan Mathez-Stiefel Dr Howard Nelson Dr Wolde G Tadesse ## **Company registered number** 03830136 ## **Charity registered number** 1080731 ## **Registered office** 37 St Margaret's Street Canterbury Kent CT1 2TU ## **Company secretary** Mr Manish Panjabi (appointed 9 January 2023) Ms Hannah McGurk (resigned 9 January 2023) ## **Accountants** Kreston Reeves LLP Chartered Accountants 37 St Margaret's Street Canterbury Kent CT1 2TU ## **Bankers** National Westminster Bank plc 11 The Parade Canterbury Kent CT1 2SQ Page 1 **The Global Diversity Foundation** ## **(A company limited by guarantee)** ## **Trustees' report for the year ended 31 March 2023** The Trustees present their annual report together with the financial statements of the Company for the year from 1 April 2022 to 31 March 2023. The Annual report serves the purposes of both a Trustees' report and a directors' report under company law. The Trustees confirm that the Annual report and financial statements of the charitable company comply with the current statutory requirements, the requirements of the charitable company's governing document and the provisions of the Statement of Recommended Practice (SORP) applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS102) (effective 1 January 2019). Since the Company qualifies as small under section 382 of the Companies Act 2006, the Strategic report required of medium and large companies under the Companies Act 2006 (Strategic Report and Directors' Report) Regulations 2013 has been omitted. ## **Objectives and activities** ## **a. Policies and objectives** The charitable company's objectives are:- i) to promote, for the public benefit, the conservation, management and development of the physical and natural environment and the maintenance of agricultural, and biological diversity, and cultural heritage in particular (without prejudice to the generality) through applied anthropological, ecological, enthnobiological and biological science; and ii) to advance the education of the public into and promote research into ethnobiology, biological conservation and cultural continuity, making the useful results of such research publicly available; and iii) to relieve hardship in local communities in particular (without prejudice to the generality) through ethnobiological and biological conservation, and cultural continuity management, and development projects and programmes. There have been no changes in the objectives since the last annual report. In setting objectives and planning for activities, the Trustees have given due consideration to general guidance published by the Charity Commission relating to public benefit, including the guidance 'Public benefit: running a charity (PB2)'. ## **b. Activities undertaken to achieve objectives** To achieve its objectives, the charitable company develops applied research, international training and community projects on bicultural diversity, globally and in the Mediterranean region. Page 2 **The Global Diversity Foundation (A company limited by guarantee)** **Trustees' report (continued) for the year ended 31 March 2023** ## **Achievements and performance** ## **a. Review of activities** Currently, the company focuses its work in North Africa on the High Atlas Cultural Landscapes programme in Morocco. This programme is a collaboration with local and national partners to address income generation, sustainable agriculture, education and youth opportunities, land governance, policy-making, traditions and knowledge transmission and biodiversity. It currently operates in 5 communes and continues to be scaled up nationally. To implement this programme, the company continued the implementation of four (4) MAVA Foundation funded grants. Maintaining Cultural Landscapes for Biodiversity and Socioeconomic wellbeing in the Moroccan High Atlas and Communicating and Promoting Mediterranean Cultural Landscapes were closed in December 2023. Placing the High Atlas on the Global Map and the MAVA Fundraising grant were concluded in July 2023. The company also continued to implement a Darwin Initiative Main Grant entitled Conserving High Atlas agrobiodiversity to improve Amazigh livelihoods in Morocco, which concluded in March 2023. In April 2022, the company launched a large 5-year project funded by the UK government’s Darwin Initiative to support the socioecological resilience of High Atlas Cultural Landscapes. During the financial year, the company applied for additional funds to support this programme. The company continued to support training of students in agroecological practices and the maintenance of school gardens in Morocco with funds from GlobalGiving, a facility for receiving online donations for specific projects. The company continued to expand the Global Environments Network (GEN) through an active programme of online GEN In Conversation events, and published a toolkit. The company implemented two major international events, recruiting an additional 45 people to the Network. The GESA Fellowship involved a 4-month online incubator launched in April 2022, culminating in a 10-day in-person event in the UK. The Community Exchange on Health Sovereignty involved a 6-month online component followed by a 3-day in-person event in Ireland. It also applied for funds to implement a new programme: the Conservation and Communities Fellowship.Core funds for this work were provided through grants from the Salvia Foundation and an anonymous donor. The company's website was transformed and updated in the course of 2022, and continues to be updated regularly with news and information. Social Media channels are very active as well. ## **Financial review** ## **a. Annual performance** Incoming resources in the period totalled £938,922 (2022: £603,636) of which £891,212 related to restricted income (2022: £596,753). Total expenditure in the period was £803,658 (2022: £377,649) after accounting for a gain on foreign exchange movement of £54,028. This gave an overall net surplus in the period of £135,264 (2022: £225,986). Total funds carried forward at the end of the period were £635,014 compared to £499,750 at 30 September 2022. Of the total funds carried forward, £468,861 related to restricted funds and £166,153 to unrestricted funds. These funds are as a direct result of project periods overlapping between our financial years where we have received the project funding against the project year to spend before 31 December 2023. A further breakdown on projects is provided under note 14. Page 3 ## **The Global Diversity Foundation** ## **(A company limited by guarantee)** ## **Trustees' report (continued) for the year ended 31 March 2023** ## **b. Reserves policy** The Trustees have reviewed GDF's reserves policy and agreed to have targeted general unrestricted reserves to approximately two months of its annual income that could cover primarily three months of the core team wages plus ongoing commitments and the closure costs. This equates to £156,487 and at the end of the period the general unrestricted reserves were £166,153. In addition, the charity had restricted reserves at 31 March 2023 of £468,861. ## **c. Going concern** After making appropriate enquiries, the Trustees have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. For this reason, they continue to adopt the going concern basis in preparing the financial statements. Further details regarding the adoption of the going concern basis can be found in the accounting policies. ## **Structure, governance and management** ## **a. Constitution** The Global Diversity Foundation is registered as a charitable company limited by guarantee and was set up by a Memorandum of Association. ## **b. Methods of appointment or election of Trustees** A Trustee is appointed by the Board of Trustees. Page 4 The Global Diversity Foundation IA ¢ompany limitèd by guarants¢) Trustees. report Icontinuedl for the year ended 31 March 2023 Stat•mont of Tru$t¢os' r¢sponsibllhl•s The Trustees (who are also the directors of the Company for the purposes of company lawl are responsible for preparing the Trustees. repK)rt and the fin8n¢i81 slalements in 8ccord8n¢e wth applic8bl& law and United Kingdom Accounting Stsndards (United Kingdom Generally A¢¢epted A¢¢ounling Pra¢li¢el- Company law requires the Trustee5 to prepare financial statements for each financial Under company law, the Trustees must not approve the financial slalemen15 unless they are s8115fied that they give a true and fair view of the stale of affairs of the Company and of its incoming reswrces and appli¢alion ol resour¢gs, in¢l(Jding ils income and expenditure, lor that period. In preparing Ihese financial sialements, the Trustees are ￿QuIred to.. select suitsble accounling rKJlicies and then apply them consistenuy, observe the methods and principles of the Charities SORP IFRS 1021., make judgments and accounting e5ts"mates that are reasonable and pruclenl., prepare the financial ststements on the going con¢em basis unless it is inappropriate to presume that the Company will continue in business. The Trustees 8re responsible lor keeping adequate accounting records that are sufficient lo show and exp18in the Companys transactions and disclose with reasonable accuracy at any lime the financial position of th8 Company and enable them to ensure that the financial statements comply wth the Companies Act 2006. They are also responsible for safeguarding the assets of the Company and hence for taking reasonable steps for the prevention and delectson of fraud and other Irr8gularits"es. Approved by order ol the members of tho board of Trustees an(J signed on Iheir behalf by.. Dr Howard Nolson Trustee Dale.. De¢ 20 2023 Pagè S **The Global Diversity Foundation** **(A company limited by guarantee)** ## **Independent examiner's report** **for the year ended 31 March 2023** ## **Independent examiner's report to the Trustees of The Global Diversity Foundation ('the Company')** I report to the charity Trustees on my examination of the accounts of the Company for the year ended 31 March 2023. ## **Responsibilities and basis of report** As the Trustees of the Company (and its directors for the purposes of company law) you are responsible for the preparation of the accounts in accordance with the requirements of the Companies Act 2006 ('the 2006 Act'). Having satisfied myself that the accounts of the Company are not required to be audited under Part 16 of the 2006 Act and are eligible for independent examination, I report in respect of my examination of the Company's accounts carried out under section 145 of the Charities Act 2011 ('the 2011 Act'). In carrying out my examination I have followed the Directions given by the Charity Commission under section 145(5)(b) of the 2011 Act. ## **Independent examiner's statement** Since the Company's gross income exceeded £250,000 your examiner must be a member of a body listed in section 145 of the 2011 Act. I confirm that I am qualified to undertake the examination because I am a member of Association of Chartered Certified Accountants, which is one of the listed bodies. I have completed my examination. I confirm that no matters have come to my attention in connection with the examination giving me cause to believe: 1. accounting records were not kept in respect of the Company as required by section 386 of the 2006 Act; or 2. the accounts do not accord with those records; or 3. the accounts do not comply with the accounting requirements of section 396 of the 2006 Act other than any requirement that the accounts give a 'true and fair' view which is not a matter considered as part of an independent examination; or 4. the accounts have not been prepared in accordance with the methods and principles of the Statement of Recommended Practice for accounting and reporting by charities [applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102)]. I have no concerns and have come across no other matters in connection with the examination to which attention should be drawn in this report in order to enable a proper understanding of the accounts to be reached. This report is made solely to the Company's Trustees, as a body, in accordance with Part 4 of the Charities (Accounts and Reports) Regulations 2008. My work has been undertaken so that I might state to the Company's Trustees those matters I am required to state to them in an Independent examiner's report and for no other purpose. To the fullest extent permitted by law, I do not accept or assume responsibility to anyone other than the Company and the Company's Trustees as a body, for my work or for this report. Signed: Dated: 20 December 2023 S M Rouse FCCA DChA ## **Kreston Reeves LLP** Chartered Accountants Canterbury Page 6 ## **The Global Diversity Foundation** ## **(A company limited by guarantee)** ## **Statement of financial activities (incorporating income and expenditure account) for the year ended 31 March 2023** |**Note**
**Income from:**
Donations and legacies
3
Charitable activities
4
Investments
5
Other income
6
**Total income**
**Expenditure on:**
Charitable activities
7
**Total expenditure**
**Net income before net losses on**
**investments**
Net losses on investments
**Net movement in funds**
**Reconciliation of funds:**
Total funds brought forward
Net movement in funds
**Total funds carried forward**|**Restricted**
**funds**
**Year ended**
**31 March**
**2023**
**£**
**886,216**
**4,996**
**-**
**-**
**891,212**
**847,691**
**847,691**
**43,521**
**-**
**43,521**
**425,340**
**43,521**
**468,861**|**Unrestricted**
**funds**
**Year ended**
**31 March**
**2023**
**£**
**46,870**
**-**
**840**
**-**
**47,710**
**(44,033)**
**(44,033)**
**91,743**
**-**
**91,743**
**74,410**
**91,743**
**166,153**|**Total**
**funds**
**Year ended**
**31 March**
**2023**
**£**
**933,086**
**4,996**
**840**
**-**
**938,922**
**803,658**
**803,658**
**135,264**
**-**
**135,264**
**499,750**
**135,264**
**635,014**|Total
funds
Period ended
31 March
2022
£
602,424
862
150
200
603,636
377,649
377,649
225,987
(1)
225,986
273,764
225,986
499,750| |---|---|---|---|---| The notes on pages 10 to 21 form part of these financial statements. Page 7 The Global Diversity Foundation IA company limitèd by guarants¢) Reglst•r8d number: 03830136 Balancè sheet as at 31 March 2023 2023 2022 Not• Flxed ass8ts Tangible assets 10 1.779 7,116 1.779 7.116 Current assets Debltsrs Cash al bank and in hand 126,687 668.627 306.111 303,442 795.314 609,553 Creditors.. 8mounls falling due within one year 12 (162,079) 1116.919} Not current assets 633.235 492,634 Total net assots 635.014 499,750 Charlty funds Restricted funds Unreslri¢ted funds 13 13 468,861 166.153 425,340 74,410 Total fund$ 635,014 499,750 The Company was entitled lo exemption from audit under section 477 of th8 Compani8s Act 2006. The members have not required the company to obtain an audit for the year in question in accordance with section 476 of Companies Act 2006. The Truslees a¢knO￿edge their responsibilities for complwng with the requirements of thg Act wth respect to accounting records and preparalion of financial slatemenis. The financial slalemenls have been prepared in accordance the provi5N)ns applicable lo entities subject lo the small companies regime. The financial statements were approved and authorised for issue by the Trusteès and signed on their bèhalf by.. Dr Howard Nelson Trustee Date.. Dec 20 2023 The notes on pages 10 10 20 form part of these financial stalemenls. Pagè 8 **The Global Diversity Foundation (A company limited by guarantee)** ## **Statement of cash flows for the year ended 31 March 2023** |**Note**
**Cash flows from operating activities**
Net cash used in operating activities
15
**Change in cash and cash equivalents in the year**
Cash and cash equivalents at the beginning of the year
**Cash and cash equivalents at the end of the year**
16
The notes on pages 10 to 21 form part of these financial statements|**Year ended**
**31 March**
Period ended
31 March
**2023**
2022
**£**
£
**365,185**
239,679
**365,185**
**239,679**
**303,442**
63,763
**668,627**
303,442|**Year ended**
**31 March**
Period ended
31 March
**2023**
2022
**£**
£
**365,185**
239,679
**365,185**
**239,679**
**303,442**
63,763
**668,627**
303,442| |---|---|---| |||**239,679**
63,763| |||303,442| |||| Page 9 **The Global Diversity Foundation (A company limited by guarantee)** **Notes to the financial statements for the year ended 31 March 2023** ## **1. General information** The Global Diversity Foundation is a charitable company limited by guarantee incorporated in England and Wales. The address of the registered office is 37 St Margaret's Street, Canterbury, Kent, CT1 2TU. Details of the principal activities are included in the Trustees' Report. ## **2. Accounting policies** ## **2.1 Basis of preparation of financial statements** The financial statements have been prepared in accordance with the Charities SORP (FRS 102) - Accounting and Reporting by Charities: Statement of Recommended Practice applicable to charities preparing their accounts in accordance with the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) (effective 1 January 2019), the Financial Reporting Standard applicable in the UK and Republic of Ireland (FRS 102) and the Companies Act 2006. The Global Diversity Foundation meets the definition of a public benefit entity under FRS 102. Assets and liabilities are initially recognised at historical cost or transaction value unless otherwise stated in the relevant accounting policy. The financial statements are presented in pound Sterling and rounded to the nearest pound. ## **2.2 Going concern** The Trustees have considered the charity's current level of reserves and the significant level of grant income expected to be received and consider that the charity has sufficient funds to enable it to continue in operation for the foreseeable future. Therefore, the financial statements have been prepared on a going concern basis. ## **2.3 Income** All income is recognised once the Charity has entitlement to the income, it is probable that the income will be received and the amount of income receivable can be measured reliably. Grants are included in the Statement of financial activities on a receivable basis. The balance of income received for specific purposes but not expended during the period is shown in the relevant funds on the Balance sheet. Where income is received in advance of entitlement of receipt, its recognition is deferred and included in creditors as deferred income. Where entitlement occurs before income is received, the income is accrued. Income tax recoverable in relation to donations received under Gift Aid or deeds of covenant is recognised at the time of the donation. Income tax recoverable in relation to investment income is recognised at the time the investment income is receivable. Other income is recognised in the period in which it is receivable and to the extent the goods have been provided or on completion of the service. Page 10 **The Global Diversity Foundation (A company limited by guarantee)** **Notes to the financial statements for the year ended 31 March 2023** ## **2. Accounting policies (continued)** ## **2.4 Expenditure** Expenditure is recognised once there is a legal or constructive obligation to transfer economic benefit to a third party, it is probable that a transfer of economic benefits will be required in settlement and the amount of the obligation can be measured reliably. Expenditure on charitable activities is incurred on directly undertaking the activities which further the Charity's objectives, as well as any associated support costs. All expenditure is inclusive of irrecoverable VAT. ## **2.5 Interest receivable** Interest on funds held on deposit is included when receivable and the amount can be measured reliably by the Company; this is normally upon notification of the interest paid or payable by the institution with whom the funds are deposited. ## **2.6 Foreign currencies** Monetary assets and liabilities denominated in foreign currencies are translated into sterling at rates of exchange ruling at the reporting date. Transactions in foreign currencies are translated into sterling at the rate ruling on the date of the transaction. Exchange gains and losses are recognised in the Statement of financial activities. ## **2.7 Tangible fixed assets and depreciation** Tangible fixed assets are initially recognised at cost. After recognition, under the cost model, tangible fixed assets are measured at cost less accumulated depreciation and any accumulated impairment losses. All costs incurred to bring a tangible fixed asset into its intended working condition should be included in the measurement of cost. Depreciation is charged so as to allocate the cost of tangible fixed assets less their residual value over their estimated useful lives, . Depreciation is provided on the following bases: Motor vehicles - 33% straight line Furniture, fittings and equipment- 33% straight line ## **2.8 Debtors** Trade and other debtors are recognised at the settlement amount after any trade discount offered. Prepayments are valued at the amount prepaid net of any trade discounts due. ## **2.9 Cash at bank and in hand** Cash at bank and in hand includes cash and short-term highly liquid investments with a short maturity of three months or less from the date of acquisition or opening of the deposit or similar account. Page 11 **The Global Diversity Foundation (A company limited by guarantee)** **Notes to the financial statements for the year ended 31 March 2023** ## **2. Accounting policies (continued)** ## **2.10 Liabilities and provisions** Liabilities are recognised when there is an obligation at the Balance sheet date as a result of a past event, it is probable that a transfer of economic benefit will be required in settlement, and the amount of the settlement can be estimated reliably. Liabilities are recognised at the amount that the Company anticipates it will pay to settle the debt or the amount it has received as advanced payments for the goods or services it must provide. Provisions are measured at the best estimate of the amounts required to settle the obligation. Where the effect of the time value of money is material, the provision is based on the present value of those amounts, discounted at the pre-tax discount rate that reflects the risks specific to the liability. The unwinding of the discount is recognised in the Statement of financial activities as a finance cost. ## **2.11 Financial instruments** The Charity only has financial assets and financial liabilities of a kind that qualify as basic financial instruments. Basic financial instruments are initially recognised at transaction value and subsequently measured at their settlement value. ## **2.12 Fund accounting** General funds are unrestricted funds which are available for use at the discretion of the Trustees in furtherance of the general objectives of the Charity and which have not been designated for other purposes. Restricted funds are funds which are to be used in accordance with specific restrictions imposed by donors or which have been raised by the Charity for particular purposes. The costs of raising and administering such funds are charged against the specific fund. The aim and use of each restricted fund is set out in the notes to the financial statements. Investment income, gains and losses are allocated to the appropriate fund. Page 12 **The Global Diversity Foundation (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **3. Income from donations and legacies** |Donations
Grants
Government grants
Total 2022|**Restricted**
**funds**
**Year ended**
**31 March**
**2023**
**Unrestricted**
**funds**
**Year ended**
**31 March**
**2023**
**£**
**£**
4,370
7,992
569,026
38,878
312,820
-
886,216
46,870
595,891
6,533|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**12,362**
5,172
**607,904**
525,514
**312,820**
71,738
**933,086**
602,424
602,424|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**12,362**
5,172
**607,904**
525,514
**312,820**
71,738
**933,086**
602,424
602,424| |---|---|---|---| ||||| ## **4. Income from charitable activities** |Registration fees
Total 2022|**Restricted**
**funds**
**Year ended**
**31 March**
**2023**
**£**
4,996
862|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**4,996**
862
862|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**4,996**
862
862| |---|---|---|---| ||||| ## **5. Investment income** |**Unrestricted**
**funds**
**Year ended**
**31 March**
**2023**
**£**
Interest received
840
Total 2022
150|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**840**
150
150|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**840**
150
150| |---|---|---| |||| Page 13 **The Global Diversity Foundation** ## **(A company limited by guarantee)** **Notes to the financial statements for the year ended 31 March 2023** ## **6. Other incoming resources** |Compensation income
Total 2022|**Unrestricted**
**funds**
**Year ended**
**31 March**
**2023**
**£**
-
200|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**-**
200
200| |---|---|---| ## **7. Charitable activities** |Project costs (including project related
stipends and travel)
Administration costs
Website maintenance
Bank charges
Staff wages
Employer's national insurance
Employer's pension contributions
(Gain) on foreign exchange
Depreciation
Audit and Accountancy
Team building and training
Total 2022|**Restricted**
**funds**
**Year ended**
**31 March**
**2023**
**Unrestricted**
**funds**
**Year ended**
**31 March**
**2023**
**£**
**£**
726,242
1,041
10,068
-
12,836
-
1,391
-
84,927
3,617
4,369
-
1,418
-
-
(54,028)
-
5,337
6,440
-
-
-
847,691
(44,033)
365,862
11,787|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**727,283**
307,684
**10,068**
2,087
**12,836**
6,147
**1,391**
1,667
**88,544**
45,190
**4,369**
4,147
**1,418**
863
**(54,028)**
(4,071)
**5,337**
3,559
**6,440**
6,060
**-**
4,316
**803,658**
377,649
377,649|**Total**
**funds**
**Year ended**
**31 March**
**2023**
Total
funds
Period ended
31 March
2022
**£**
£
**727,283**
307,684
**10,068**
2,087
**12,836**
6,147
**1,391**
1,667
**88,544**
45,190
**4,369**
4,147
**1,418**
863
**(54,028)**
(4,071)
**5,337**
3,559
**6,440**
6,060
**-**
4,316
**803,658**
377,649
377,649| |---|---|---|---| ||||| Page 14 **The Global Diversity Foundation (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **8. Staff costs** |Wages and salaries
Social security costs
Contribution to defined contribution pension schemes|**Year ended**
**31 March**
Period ended
31 March
**2023**
2022
**£**
£
**88,544**
45,190
**4,369**
4,147
**1,418**
863
**94,331**
50,200|**Year ended**
**31 March**
Period ended
31 March
**2023**
2022
**£**
£
**88,544**
45,190
**4,369**
4,147
**1,418**
863
**94,331**
50,200| |---|---|---| |||50,200| The average number of persons employed by the Company during the year was as follows: ||**Year**|**ended**|Period|ended| |---|---|---|---|---| ||**31**|**March**|31|March| |||**2023**||2022| |||**No.**||No.| |Employees||**3**||4| No employee received remuneration amounting to more than £60,000 in either period. ## **9. Trustees' remuneration and expenses** During the year, no Trustees received any remuneration or other benefits (2022 - £NIL). During the year ended 31 March 2023, expenses were reimbursed or paid directly to 5 Trustees for £1,917 in relation to travel costs (2022 - £NIL). Page 15 **The Global Diversity Foundation** **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **10. Tangible fixed assets** |**Cost or valuation**
At 1 April 2022
At 31 March 2023
**Depreciation**
At 1 April 2022
Charge for the year
At 31 March 2023
**Net book value**
At 31 March 2023
At 31 March 2022
**11.**
**Debtors**
Other debtors
Prepayments and accrued income
**12.**
**Creditors: Amounts falling due within one year**
Trade creditors
Other taxation and social security
Other creditors
Accruals and deferred income|**Motor**
**vehicles**
**£**
**16,012**
**16,012**
**8,896**
**5,337**
**14,233**
**1,779**
7,116||**Office**
**equipment**
**£**
**9,282**
**9,282**
**9,282**
**-**
**9,282**
**-**
-
**2023**
**£**
**48,482**
**78,205**
**126,687**
**2023**
**£**
**55,499**
**1,865**
**95,635**
**9,080**
**162,079**|**Total**
**£**
**25,294**
**25,294**| |---|---|---|---|---| |||||**18,178**
**5,337**
**23,515**| |||||**1,779**| |||||7,116| |||||2022
£
269,859
36,252
306,111
2022
£
15,190
1,886
88,078
11,765
116,919| Page 16 **The Global Diversity Foundation (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **13. Statement of funds** ## **Statement of funds - current year** |**Unrestricted funds**
General Funds
**Restricted funds**
GEN/GESA Fund
MAVA Cultural Landscapes Fund
Darwin IV Morocco Fund
Darwin Initiative Extra Fund
Hans Wilsdorf Foundation fund
**Total of funds**|**Balance at 1**
**April 2022**
**£**
**74,410**
**138,659**
**286,681**
**-**
**-**
**-**
**425,340**
**499,750**|**Income**
**£**
**47,710**
**129,366**
**331,022**
**123,527**
**181,268**
**126,029**
**891,212**
**938,922**|**Expenditure**
**£**
**44,033**
**(168,857)**
**(399,414)**
**(123,527)**
**(155,893)**
**-**
**(847,691)**
**(803,658)**|**Balance at**
**31 March**
**2023**
**£**
**166,153**| |---|---|---|---|---| |||||**99,168**
**218,289**
**-**
**25,375**
**126,029**
**468,861**| |||||**635,014**| Page 17 **The Global Diversity Foundation (A company limited by guarantee)** **Notes to the financial statements for the year ended 31 March 2023** ## **13. Statement of funds (continued)** The GEN/GESA Fund is set up with support from the Salvia Foundation, GlobalGiving donations and participant fees to fund events, initiatives and management of the Global Environments Network, including summer and regional academies, community exchanges, online events, toolkits and GEN Alumni projects. The Socio-economic viability of High Atlas Cultural Landscapes (2023) is funded by the MAVA Foundation to support biodiversity conservation actions, research on sustainable land use practices, and livelihoods among Amazigh indigenous people in the High Atlas Mountains of Southern Morocco. It includes MAVA Foundation funds granted to carry out collaborative activities with regional partners on communications and biodiversity monitoring under the MAVA M6 partnership for Mediterranean Cultural Landscapes. It also includes funds from the MAVA Foundation to support GDF fundraising, organisational development and dissemination efforts. The Darwin IV Morocco Fund project (2020 - 2023) from the Department for Environment Food & Rural Affairs is for conserving High Atlas agrobiodiversity for improved livelihoods in the High Atlas rural communes of Ait M'hamed, Imegdal and Oukaimeden. It includes agrobiodiversity assessment and exsitu conservation; on-farm, in-situ selection and cultivation of promising crop varieties; knowledge exchange, seed sharing, product innovation and commercialisation; and national policy support. The deficit on this fund will be covered by future funding. The Darwin Initiative Extra Fund - In April 2022, the charity launched a large 5-year project funded by a UK government Darwin Initiative Extra grant to support the socio-ecological resilience of High Atlas Cultural Landscapes. This programme supports High Atlas communities in Southern Morocco to (a) implement local conservation actions, (b) develop strategies to sustain traditional practices that maintain cultural landscapes and (c) engage in sustainable commercialisation of local products to support their livelihoods, in close collaboration with local cooperatives. The Hans Wilsdorf Foundation grant (2022-2027) supports GDF through core funds, directed at supporting the Morocco Programme. The fund principally covers GDF staff and other core costs The Darwin UCL Fund is to support a member of our local partner MBLA to carry out a fellowship at UCL on the topic of ethnopharmacological concepts and techniques, applied to a vulnerable Endemic High Atlas medicinal plant (Anacyclus pyrethrum) and to help him gain an understanding of how to improve indigenous participation in the CBD's ABS mechanisms, applicable to Morocco. Page 18 **The Global Diversity Foundation (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **13. Statement of funds (continued)** ## **Statement of funds - prior year** |**Unrestricted funds**
General Funds
**Restricted funds**
GEN/GESA Fund
MAVA Cultural Landscapes
Fund
Darwin IV Morocco Fund
Darwin UCL Fund
**Total of funds**|Balance at
1 October
2021
£
79,315
71,925
119,261
(431)
3,694
194,449
273,764|Income
£
6,883
123,280
374,233
93,290
5,950
596,753
603,636|Expenditure
£
(11,787)
(56,546)
(206,813)
(92,859)
(9,644)
(365,862)
(377,649)|Gains/
(Losses)
£
(1)
-
-
-
-
-
(1)|Balance at
31 March
2022
£
74,410| |---|---|---|---|---|---| ||||||138,659
286,681
-
-
425,340| ||||||499,750| ## **14. Analysis of net assets between funds** ## **Analysis of net assets between funds - current year** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|**Restricted**
**funds**
**2023**
**Unrestricted**
**funds**
**2023**
**£**
**£**
-
1,779
630,940
164,374
(162,079)
-
468,861
166,153|**Total**
**funds**
**2023**
**£**
**1,779**
**795,314**
**(162,079)**
**635,014**| |---|---|---| Page 19 **The Global Diversity Foundation (A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **14. Analysis of net assets between funds (continued)** ## **Analysis of net assets between funds - prior year** |Tangible fixed assets
Current assets
Creditors due within one year
**Total**|Restricted
funds
2022
£
-
542,259
(116,919)
425,340|Unrestricted
funds
2022
£
7,116
67,294
-
74,410|Total
funds
2022
£
7,116
609,553
(116,919)
499,750| |---|---|---|---| ## **15. Reconciliation of net movement in funds to net cash flow from operating activities** |Net income for the year (as per Statement of Financial Activities)
**Adjustments for:**
Depreciation charges
Losses on investments
(Increase)/decrease in debtors
(Decrease)/increase in creditors
**Net cash provided by operating activities**
**16.**
**Analysis of cash and cash equivalents**
Cash in hand
**Total cash and cash equivalents**|**Year ended** Period ended
**2023**
2022
**£**
£
**135,264**
225,986
**5,337**
3,559
**-**
1
**179,424**
69,748
**45,160**
(59,615)
**365,185**
239,679
**2023**
2022
**£**
£
**668,627**
303,442
**668,627**
303,442| |---|---| Page 20 **The Global Diversity Foundation** ## **(A company limited by guarantee)** ## **Notes to the financial statements for the year ended 31 March 2023** ## **17. Analysis of changes in net debt** |Cash at bank and in hand|**At 1 April**
**2022**
**£**
**303,442**
**303,442**|**Cash flows**
**£**
**365,185**
**365,185**|**At 31 March**
**2023**
**£**
**668,627**
**668,627**| |---|---|---|---| ## **18. Related party transactions** The Company has not entered into any related party transaction during the year, nor are there any outstanding balances owing between related parties and the Company at 31 March 2023. Page 21